"Many investors, including me, believe that the Treasury/Fed directly intervened in the US equity markets by having a “primary dealer” buy SP 500 futures"The sad thing is that we may never know. While I can see the value of Fed actions not being subject to exact audit at the time they are done there is no excuse for full details not being released after a few years lag. There is no reason for secrecy at that point except to protect Fed officials at the expense of the public. I agree that Benanke and crew have belief in their models. But Rationality is what is needed, not Faith. How many econometric models have fully succeeded over long periods?
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